However, the local note was lower against the US dollar today amid continued support for the greenback on expectations that the US Federal Reserve (Fed) would maintain its restrictive monetary stance.

At 6pm, the ringgit depreciated to 3.9515/3.9580 against the greenback from 3.9300/3.9330 at Thursday’s close.

Earlier today, BNM reported that Malaysia’s economy expanded by 5.4%, with household spending remaining resilient amid favourable labour market conditions and continued policy support.

The report also said investment activity was sustained by machinery and equipment spending, structures investment and the implementation of multi-year projects.

The central bank said private consumption expanded by 4.7% in Q1 2026, while private investment grew 7.8%. Net exports surged 13.5% amid steady export growth and a faster moderation in imports.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said strong US retail sales growth of 4.9% year-on-year in April suggests that the Fed is likely to maintain its restrictive stance this year, providing support for the dollar.

“Meanwhile, the recent meeting between US president Donald Trump and his Chinese counterpart Xi Jinping appeared cordial, suggesting that trade relations between the two countries remain fairly conducive for now,” he told Bernama.

At the close, the ringgit traded mostly higher against a basket of major currencies.

It appreciated against the British pound to 5.2749/5.2835 from 5.3094/5.3135, and rose against the euro to 4.5948/4.6024 from 4.6009/4.6044 at Thursday’s close.

However, it slid against the Japanese yen to 2.4927/2.4968 from 2.4886/2.4907 previously.

The local currency traded mostly lower against its regional peers.

It rose against the Thai baht to 12.0989/12.1247 from 12.1506/12.1652, but eased against the Singapore dollar to 3.0871/3.0927 from 3.0867/3.0893, shed against the Indonesian rupiah to 224.5/225.0 from 224.1/224.4 and was lower against the Philippine peso at 6.40/6.41 from 6.37/6.38.